How to Resolve ‘’The Company File Needs To Be Updated”?

When you upgrade to a latest version of QuickBooks Desktop and try to open a QuickBooks company file, you may encounter a warning message that says: “This Company file needs to be updated. Please ask your QuickBooks Admin to update the file"Until the problem is fixed, you might have trouble loading your company file. This article talks about how to fix the This company file needs to be updated error in QuickBooks. It also explains the causes and methods to fix this error. 

 

Some Factors To Consider Before Upgrading The QuickBooks Company File

 

To verify that the QuickBooks company file is upgraded without any issues, the following aspects should be considered: 

 

To upgrade your company file, you must have full admin access and permission. Make sure you are logged into the QBD app from an admin profile. 



Even if the update is taking longer than you thought, you shouldn't stop it because upgrading a QuickBooks Company file can be time-consuming. Your company file's size and internet speed will determine how long it takes to complete. In order to update your company file, you must have a reliable internet connection. 



It is not advisable to upgrade the company file on a different computer connected to the network. If the file is located on a different computer, copy it there, make the necessary updates, and then copy it back.



There is no method to change from QuickBooks Enterprise to QuickBooks Pro within the software. However, you can ask QuickBooks Data Conversion services to handle it for you.



After an upgrade, a QuickBooks file can no longer be opened in an earlier version. If you want to use an earlier version of QuickBooks Desktop, you must recover the automated backup of your QuickBooks Data from that version of QuickBooks. If you want to upgrade the QuickBooks file, you can do so by performing a restore.